Allogene Therapeutics Inc. (NASDAQ:ALLO) marked $6.86 per share on Monday, up from a previous closing price of $6.55. While Allogene Therapeutics Inc. has overperformed by 4.73%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALLO fell by -40.76%, with highs and lows ranging from $17.49 to $5.41, whereas the simple moving average fell by -33.60% in the last 200 days.
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On January 06, 2023, Robert W. Baird Upgraded Allogene Therapeutics Inc. (NASDAQ: ALLO) to Outperform. A report published by BofA Securities on December 12, 2022, Downgraded its rating to ‘Underperform’ for ALLO. Goldman July 15, 2022d the rating to Buy on July 15, 2022, and set its price target from $9 to $32. Robert W. Baird initiated its ‘Neutral’ rating for ALLO, as published in its report on June 03, 2022. B. Riley Securities’s report from February 28, 2022 suggests a price prediction of $21 for ALLO shares, giving the stock a ‘Buy’ rating. Cowen also rated the stock as ‘Outperform’.
Analysis of Allogene Therapeutics Inc. (ALLO)
In order to gain a clear picture of Allogene Therapeutics Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -37.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 11.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.88M can be a very valuable indicator of volatility for ALLO stock. On a monthly basis, the volatility of the stock is set at 7.77%, whereas on a weekly basis, it is put at 7.72%, with a loss of -2.83% over the past seven days. Furthermore, long-term investors anticipate a median target price of $22.53, showing growth from the present price of $6.86, which can serve as yet another indication of whether ALLO is worth investing in or should be passed over.
How Do You Analyze Allogene Therapeutics Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 76.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ALLO shares?
The recent increase in stakes in ALLO appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in ALLO has decreased by -15.07% in the first quarter. The company now owns 7,027,854 shares of the stock, with a value of $44.21 million, following the sale of -1,247,007 additional shares during the last quarter. SSgA Funds Management, Inc. made another increased to its shares in ALLO during the first quarter, upping its stake by 18.14%. During the last quarter, the company picked up 1,025,973 additional shares for a total stake of worth $42.02 million, bringing number of shares owned by the company to 6,680,297.
During the first quarter, BlackRock Fund Advisors added a 169,396 position in ALLO. T. Rowe Price Associates, Inc. purchased an additional 0.35 million shares in the last quarter, increasing its holdings by 6.26%, now holding 5.91 million shares worth $37.16 million. At the end of the first quarter, Capital Research & Management Co increased its ALLO holdings by 22.71% and now holds 5.31 million ALLO shares valued at $33.4 million with the added 0.98 million shares during the period. ALLO shares are owned by institutional investors to the tune of 76.20% at present.
